Question
ABC Corporation has the following information for the year: Beginning Accounts Receivable: $20,000 Ending Accounts Receivable: $25,000 Credit Sales: $150,000 Cash Collections: $130,000 Calculate the
ABC Corporation has the following information for the year:
- Beginning Accounts Receivable: $20,000
- Ending Accounts Receivable: $25,000
- Credit Sales: $150,000
- Cash Collections: $130,000
Calculate the accounts receivable turnover ratio and the average collection period.
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Introduction To AccountingAn Integrated Approach
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